Report: Fed Concerned Capital One/ING Direct Merger Could Create Another Too-Big-To-Fail Bank

Report: Fed Concerned Capital One/ING Direct Merger Could Create Another Too-Big-To-Fail Bank

Back in July, Capital One announced a deal to purchase online bank ING Direct USA for around $9 billion. And even though Cap One tried hard to quell ING customers’ screams of “nooooooo,” the folks at the Federal Reserve are reportedly a bit worried that the deal might create another bank so big that its failure would have a disastrous impact on the economy. [More]